U.S. stocks were higher, with the Dow Jones index gaining over 100 points on Monday.
Shares of M&T Bank Corporation (NYSE: MTB) rose sharply during Monday’s session after the company reported first-quarter financial results.
Spirit Airlines anticipates first-quarter FY24 revenue slightly below estimates at $1.265 billion. With capital expenditures of $30 million primarily for its new headquarters in Dania Beach, Florida, and spare parts, Spirit remains focused on strategic investments. Ending Q1 with $1.2 billion in cash reserves and a $300 million credit line.
Spirit Airlines defers Airbus aircraft deliveries to bolster liquidity. Agreement with Airbus SE pushes scheduled Q2 2025 deliveries to 2030-2031, excluding direct-lease planes. Expected liquidity boost of $340M in 2 years.
Spirit Airlines shares are rising Monday after the company entered into an agreement with International Aero Engines to provide Spirit with a monthly credit through the end of 2024